Market overview - Traders.fi

This will not be a long update. ..and I will start in the wrong corner by looking first a 1h time frame, then the daily and last, or somewhere in between, the weekly.

First off, the direction has been up now for a long, long time with none to minor pullbacks. The first chart, the 1h time frame, I’ve drawn a scenario or a guesstimate on how I predict the beginning of the week. Actually, the action is somewhat more bullish with a falling wedge etc. but then again if you look at the daily time frame, there is a rising wedge and the movement is getting smaller and smaller. In other words, it is running out of space and needs to break either upwards or downwards.. ..or continue in a smallish range for some time to expand the channel.. Some levels also shown on the chart below, click it to make it bigger.

Not much of interest on the weekly chart below. Volume flow has been positive for a loooong time, nothing exceptional there. A negative divergence on volume flow could be in the forming but let’s see how it will fold out over the coming days/weeks. Also on the right side chart, the rising wedge with a tick trend momentum getting weaker is interesting. The macro data has also been somewhat bearish over the last weeks but nothing have been enough to ignite a healthy pullback in this market. It will come though but when.. 🙂 The weekly chart also has somekind of rounded top in the forming (uh-oh, let’s not go there..)

Note how every try to a pullback has been bought on the daily time frame. The last minor pullback had bigger bearish volume behind it.

Next 1h time frame, volume flow is still somewhat bearish. Tick momentum has a positive bullish divergence.

Another daily chart, money flowing out, note also RSI negative divergence.. ..which of none has been of importance the last year..

The last 1h chart (on the left) needs no comments.. The 1d on the right has an interesting negative volume flow building up.

Next I’ll try to update block trades to see what them big boys are up to.